8
PANDORA ETHICS REPORT
9
RESPONSIBLE JEWELLERY COUNCIL
PANDORA is a certifiedmember of the Responsible
JewelleryCouncil (RJC), an organisation dedicated to
reinforcing consumer confidence in jewellery by
developing, implementing and enforcing responsible
business practices across the entire jewellery supply
chain – frommine tomarket. RJC is a full member of the
ISEALAlliance and is thereby recognisedby other leading
certification organisations as the sustainability leader
within its field. In 2012, PANDORA entities around the
worldwere audited by independent consultants in order
to achieve group-wide certificationunder the RJCCode of
Practices, which requires compliancewithmore than 100
sustainability provisions.
As part of RJC’smovement from being purely a
business initiative towards becoming amulti-stakehold-
er platform, the Standards Setting Committee has been
expanded to include a range of independent sustainability
experts and global NGOs. In 2013, PANDORAwas once
again elected by RJC’s jewellerymanufacturingmembers
to represent them in the Standards Setting Committee for
the years 2013-2015.
UNITED NATIONS GLOBAL COMPACT
In 2013, PANDORA continued as amember of theUnited
NationsGlobal Compact and remained active in theGlobal
Compact NordicNetwork. PANDORA continues to support
theGlobal Compact, whichwe recognise to be themost
important sustainability initiative across industries.
GOVERNANCE
For PANDORA, the aim of good corporate governance
is tomaximise long-term value creation and ensure
APPROACH
transparency and accountability in thewaywe fulfil our
obligations towards shareholders, consumers, customers,
employees, authorities andother key stakeholders.
PANDORA intends to exercise good corporate governance
at all times and to assess its practices according to
the recommendations issued by theDanishCommittee
onCorporateGovernance. Exactly howwe achieve this
is further elaborated on our governance site on
.
PANDORA
Ethics
is governed by our internal CSR
Steering Committee, headed by ourVice President, Group
CSR and is further made up of the heads of Procurement,
Manufacturing, HR, and Investor Relations &Communi
cations, with our Chief Financial Officer andChief
Marketing&Merchant Officer representing executive
management. Essential 2013 discussions have covered
our engagement in the RJC, the progress of PANDORA’s
Responsible Supplier Programme and the voluntary
overtime hours offered to colleagues at our jewellery
crafting facilities. Our progress in advancing responsible
business practices is discussed twice annually on
PANDORA’sAudit Committee under the Board of
Directors.
VALUE CHAIN
PANDORAoperateswith an integrated value chain,
controlling all activities from design and choice of
materials, through jewellery crafting at our own facilities
to themarketing and sale of our jewellery.This setup is
uniquewithin our industry and provides PANDORA
with effective and secure channels of information, fast
responsiveness tomarket demands, excellent conditions
for optimising the use of materials, low compliance costs
and a fertile ground for building one corporate culture
– and one brand.
